What A solution is a product, service, program, policy, or initiative that enables the private sector to create societal good and measurable results across the most important challenges relating to the New Economy editorial pillars: trade, technology, climate, finance and capital markets, inclusion, urbanization, and global governance. Who Solutions arise from collaboration. Bloomberg creates powerful coalitions of the world’s top leaders across industries, functions, and regions. Although solutions are led by the private sector, Bloomberg welcomes all leaders committed to fostering inclusive growth. How Bloomberg advances solutions by launching pilot programs, forging partnerships, convening global coalitions, raising awareness for powerful ideas from around the world, and measuring and publicizing the results. Global Solution In 2019, we brought together leaders around the world to advance solutions launched at the inaugural 2018 New Economy Forum in Singapore. Sessions We hosted Solution Sessions with companies and organizations across London 19 industries, who together employ over 3.7M workers. Enable Sustainable Supply Chains Mexico City New York City Develop a Social Hire and Integrate Bangkok Contract for Businesses Refugees Support Refugees in the New Economy Apply AI Responsibly San Francisco Singapore Apply AI Responsibly Prepare Workers for the New Economy 4 5 Bloomberg is proud to collaborate 2030Vision Google Planet with innovative companies and 3M Goldman Sachs Salesforce organizations on New Economy Solutions. We could not drive Anheuser-Busch InBev GovLab at New York University Schneider Electric impact and results without the Anglo American Grand Royal Group Siam Cement Group organizations that helped Arm Greentech Capital SkillsFuture Singapore advance solutions in 2019. Asia Society GSMA Syngenta Bangkok Bank HSBC Talent Center Institute SC BT Hyundai Tata Sons CDP Internal Displacement Thai Bev Cargill Monitoring Centre Thai Wah CBRE KPMG The Border Consortium Chanel LEGO The Innovators Institute Coca-Cola Lennar International The Tent Partnership for Refugees Conicle LinkedIn UBS Credit Suisse Mastercard United Nations Disrupt Technology Ventures McKinsey & Company United Way Mexico Edelman Morgan Stanley Department for International EL Rothschild National Grid Development (UK) Enseña por Mexico National University of Singapore Vonder Ernst & Young New York City Economic Walmart Development Board (NYCEDC) Eurasia Group William Jackson Food Group Noble Intelligence (McKinsey) Facebook World Bank Group OpenDurian Fullerton Health Worldwide Generation PayPal Generation 6 7 Thank you to each individual, organization, and company that has engaged with us this year. We look forward to continuing to work together to meaningfully drive progress and measurable results to create a stronger, more inclusive global economy. We encourage delegates to get involved with our ongoing initiatives in 2020 and beyond. In the following pages you will see highlights and updates from the inaugural year of New Economy Solutions and ways that your company can get involved. 8 9 Solution: Hire and integrate refugees Solution Challenge Europe and North America, where many refugees resettle, have struggled to cope. The largest refugee crisis in history Job opportunities are inadequate for Hire and is growing. the scale of the displaced population, and many refugees have struggled integrate With resettlements across to learn new languages and leverage the Middle East, North their educational credentials in a foreign refugees Africa, and Latin America, context. Half of the world’s refugees One out of every have been displaced for more than How can the private sector two decades. play a role in alleviating 110 people The success or failure of refugee the worst refugee crisis has been displaced integration can have lasting from their home country. in history? consequences, affecting whether future generations reach their full potential or remain trapped in poverty. Political turmoil in Syria Beyond being a humanitarian imperative, and the Northern Triangle integrating refugees successfully would of Central America contribute to economic growth. Research has worsened, suggests that integrating refugees who driving millions have arrived in Europe between 2015 across borders. and 2018 would add at least 70 billion euros to annual GDP by 2025. [1] Given the scale of the challenge, In Thailand, 80,000 governments and non-profit people have resettled resettlement organizations cannot in sprawling camps along solve the problem alone. Corporate the border with Myanmar. leaders have an opportunity to join the global response by hiring and retraining refugees and expanding corporate diversity-and-inclusion programs to benefit displaced workers. How can we leverage the private sector to support a more stable and prosperous future for the world’s most vulnerable refugee populations? [1] McKinsey Global Institute, “Europe’s Refugees: Refocusing on Integration,” Briefing Note, May 2018 10 New Economy Solutions Report 2019 11 Solution: Hire and integrate refugees New Economy insights Key actions being pursued after In 2019, we collaborated with the Tent The private sector opportunity these sessions include: Partnership for Refugees, a nonprofit Bloomberg is elevating awareness of founded by Hamdi Ulukaya, the CEO There is more work to be done. Identifying factories with openings the refugee crisis to the C-suite inside of Chobani, to work to improve the Looking ahead, we will expand our that can be filled with refugees the world’s largest companies and lives and livelihoods of refugees. work to collaborate with more companies building coalitions of private sector Addressing skills and language Tent has engaged 130 organizations, to hire and integrate refugees into their leaders to act. gaps among current workforces including Unilever and Starbucks, to workforces. We will continue to address provide professional opportunities and this global crisis by encouraging the In 2019, Bloomberg New Economy Improving perceptions of refugee other services to 200,000 refugees, and private sector to commit to action. convened Solution Sessions with integration among employees supports companies in understanding We are looking for a commitment of senior leaders in Bangkok and Mexico and communicating the opportunities 15 companies to join the Tent Partnership City to find new ways of addressing Engaging employers in identifying for supporting refugees. in 2020, so that thousands of refugees regional refugee challenges. Participants skills gaps and future needs that can be filled with refugee talent can find employment and transition included large multinationals such as We are encouraged to know that to a more stable economic future. 3M, humanitarian assistance agencies Supporting refugees’ over a dozen companies from the such as The Border Consortium and psychosocial health New Economy community are part UNHCR, and training and reskilling of the Tent Partnership, including Citi, Please contact us at Applying lessons to the refugee companies such as Generation. Goldman Sachs, Google, IBM, IKEA, [email protected] crisis from other diversity and Inditex, KPMG, LinkedIn, Mastercard, to learn more about the business inclusion efforts McKinsey & Company, Microsoft, PIMCO, case for integrating refugees and Salesforce. Each of these companies and to take advantage of the has identified unique opportunities in Tent Partnership’s research their workforces for refugees. In addition, and resources. Bloomberg itself is pleased to be joining the Tent Partnership, and is exploring how to support refugees through hiring and training and in our supply chain. 12 New Economy Solutions Report 2019 13 Solution: Apply data and AI for disaster resilience Solution Challenge The exponential growth of data and advanced analytics has created In recent decades, natural disasters opportunities for improved disaster Apply data and have become more frequent and resilience and response. their effects more devastating. AI for disaster Beyond their short-term impact in the form of casualties, stronger natural resilience 3x as many natural disasters can have far-ranging disasters occurred consequences, affecting the air we How can the private sector in the 2000s breathe, the water we drink, the food we eat, and the places we inhabit. improve resilience and as in the 1980s relief in the face of climate Flooding can contaminate the water supply and destroy crops. Wildfires change-related disasters? can spread harmful smoke for Natural disasters now cause thousands of miles. We must be better prepared. $150 billion in Having to manage expensive recovery [2] annual damage. efforts that sometimes take years, national governments and NGOs are struggling to respond. [3] Leveraging Climate change is technology and talent, the private increasing the severity sector can do more to help. of droughts and fueling New data and advanced analytics more powerful storms. tools can meaningfully improve disaster resilience and response. For example, data from traffic, social media, telecommunications, and satellites can be applied to assess vulnerabilities before a disaster strikes and optimize resource allocation in its aftermath. Social media and telecommunications data can be used to make search-and-rescue operations faster and more efficient. [2] “Steady Increase in Climate Related Natural Disasters,” Accuweather.com Nov. 2013 [3] “Improving disaster recovery: lessons learned in the United States,”